{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged Distributing) is a UCITS-compliant ETF that employs a passive, physical replication strategy by investing in a representative sample of bonds from the Bloomberg Global Aggregate Float Adjusted and Scaled Index. The KIID and PRIIPs KID explicitly state that the Fund uses physical acquisition of securities and representative sampling, with no mention of synthetic replication, swap agreements, or total return swaps. The Fund may use derivatives only for risk or cost reduction or to generate extra income, but this is incidental and not an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure indicated. The risk profile is moderate-low (risk level 4 in KIID, 2 in PRIIPs KID), consistent with a straightforward bond index tracking fund. The monthly factsheet confirms no synthetic replication or swap usage, and the Fund invests in liquid, investment-grade bonds with a broad global allocation. There are no capital protection or structured features, no contingent convertible bonds or complex underlying assets. Costs are simple with a low ongoing charge (0.10%) and no performance fees or swap fees. The PRIIPs KID does not carry a complexity warning beyond the standard note that the product is 'not simple and may be difficult to understand'\u2014a generic statement for bond ETFs with currency hedging. Currency hedging is used but does not involve synthetic replication or unfunded swaps. Overall, the Fund's structure and documentation indicate a non-complex ETF under MiFID II criteria."
}